In finance, trust isn’t a virtue. This week’s stories come with a cautionary tale reminding us to watch our backs when handling our finances. Credit cards, checking accounts and loans are often essential, but sometimes deceptive and punitive. As always, if you enjoy any of our favorites, we encourage you to follow them on Twitter for regular updates. And don’t forget to follow Credit.com at @CreditExperts.

Anatomy of a $500,000 Credit Card Fraud
You know what they say when someone looks good on paper; they may be applying for fraudulent credit. I think that was it… Anyhow, this is a story of two brothers who created hundreds of identities while duping the banks and credit bureaus all the way back to the bank! @CNNMoney

Card Issuers Sneak in Hikes to the Indebted
Borrowers beware! While the CARD Act helped mitigate interest rate hikes, lenders may be raising your annual fees and capitalizing on the immobility of those holding revolving debts. Keep your magnifying glass close, the fine print could be costing you a bundle. @TheStreet_News

Predatory Payday Lenders Target Military Families
Payday lenders aren’t known for operating at high ethical standards, and that perception is proving to be true. There’s an increase in payday lending operation in areas where military families live, proving that the financial battle may be the hardest one for some of our men and women in uniform to fight. @msnbc.com@daily_finance

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Credit.com team member and personal finance contributor, Tim Langevin studied journalism at Columbia College, Chicago and graduated with a degree in Integrated Marketing Communications. Tim shares his unique insight on finding the best bargains and tips to help consumers stay on budget and in control. Have a question for our experts? Email them at CreditExperts@Credit.com.

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The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

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